The decrease was caused by the euro introduction, which the banks themselves were campaigning for. Their administrative expenses last year amounted to EUR 44.5 million.
"The profits have shrunk. The most important reason was related to the euro adoption, namely, additional expenses related to investment into systems," the country's chief banker explained yesterday. Pre-audited data shows that in 2014 as many as 6 out of 7 banks and 5 out of 8 bank branches were operating profitably. It would seem that they should pay several dozens of millions to the state budget as a profit tax, however, there is nothing to rejoice at yet.
Vasiliauskas yesterday said that the banks still have not recouped the losses suffered during the financial crisis.
